(Bloomberg) -- Deutsche Bank AG agreed to pay more than $16 million to resolve U.S. Securities and Exchange Commission claims that the bank failed to prevent employees from violating anti-bribery laws by hiring relatives of government officials in order to win business.

The hiring in Asia-Pacific region and Russia violated U.S. laws including the Foreign Corrupt Practices Act, the SEC said in a Thursday statement. The Frankfurt-based bank agreed to resolve the allegations without admitting or denying wrongdoing, the SEC said.

To contact the reporter on this story: Gregory Mott in Washington at gmott1@bloomberg.net

To contact the editor responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net

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